Private investment in Petroleum sector to achieve economic benefits: Nadeem Babar

Prime Minister’s Special Assistant on Petroleum Nadeem Babar says private investment should be encouraged in Petroleum sector to achieve economic benefits.

Addressing a seminar in Islamabad today (Tuesday), he said Petroleum sector can effectively contribute to GDP growth of the country if the monopoly of government is reduced through creating a competitive environment by private investment.

The Special Assistant said 25 percent of total indirect taxes are being collected from this sector which can be enhanced through effective measures. He said to deal with the shortage of gas in the country, long term plans are need of the hour.

Nadeem Babar said due to increased gap between demand and supply of natural gas, we are dependent to imported LNG that can overburden consumers in shape of increased prices.


Source: Radio Pakistan